Impact of transactions on different funds. Indicate into which fund a city would record each of the following transactions. (You need not make any entries.)
a. Fixed assets are purchased with general fund cash.
b. Long-term serial bonds are issued to finance the construction of a new art museum. The bonds are sold at a premium.
c. The general fund transfers a sufficient amount of money to cover principal and interest requirements of a debt issue.
d. The fund receiving the payment in item (c) makes the scheduled payment of principal and interest.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here